BluePhoenix continues to rebuild board with respected industry
leaders by electing former VMware executive, Tom Jurewicz, to the Board
of Directors and Audit Committee.

December 07, 2012 07:17 AM Eastern Time

HERZLIA, Israel--(BUSINESS WIRE)--BluePhoenix (www.bphx.com)
(NASDAQ: BPHX), the leading provider of tools and services for
modernizing legacy systems and applications, announced Tom Jurewicz as a
new member of the Board of Directors, effective immediately. “Tom helped
run finance for VMware for 12 years. His operational expertise in
helping them grow from a small startup to a huge corporation will help
us be a better company,” said Matt Bell, President & CEO.

“This company has
significantly improved the balance sheet and I expect to have many
discussions in the near future about how to prepare the company for
responsible growth.”

Thomas J. Jurewicz is a highly respected financial expert in the
technology industry. He spent 12 years at VMware, Inc. (NYSE: VMW) where
he held various financial positions including Treasurer, interim CFO,
Board Member of its subsidiaries, and EMEA Controller. He was integral
to the sale of the company to EMC Corp (NYSE: EMC) and its subsequent
IPO. Prior to that, Mr. Jurewicz served in finance roles for CMC
Industries, Inc. (NASDAQ: CMCI), and NETCOM, On-Line Communications
(NASDAQ: NETC). Early in his career, he was an investment banker for
Merrill Lynch & Co (NYSE: ML). Mr. Jurewicz holds an MBA from Stanford
University, and a BS in Applied Mathematics from Yale University.

“I’m very excited to be involved in BluePhoenix and the turnaround that
is underway,” said Tom Jurewicz. He went on to say, “This company has
significantly improved the balance sheet and I expect to have many
discussions in the near future about how to prepare the company for
responsible growth.”

“We are honored to have experts like Tom join our board over the last 6
months. The company has changed dramatically in a very short period of
time and I look forward to working with Tom and all the other new board
members to grow this company in a smart and thoughtful manner,” said
Bell.

About BluePhoenix Solutions

BluePhoenix Solutions Ltd. (NASDAQ: BPHX) is the leading provider of
legacy IT modernization conversion solutions. The BluePhoenix portfolio
includes a comprehensive suite of tools and services from global IT
asset assessment and impact analysis to automated database and
application migration. Leveraging over 20 years of best-practice domain
expertise, BluePhoenix works closely with its customers to ascertain
which assets should be migrated, redeveloped, or wrapped for reuse as
services or business processes, to protect and increase the value of
their business applications and legacy systems with minimized risk and
downtime.

BluePhoenix provides modernization solutions to companies from diverse
industries and vertical markets such as automotive, banking and
financial services, insurance, manufacturing, and retail. BluePhoenix
has 6 offices in the USA, UK, Italy, Romania and Israel.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this release may be deemed
forward-looking statements within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995 and
other Federal Securities laws. You can identify these and other
forward-looking statements by the use of words such as “may,” “will,”
“plans,” “believes,” “estimates,” “expects," “predicts”, “intends,” the
negative of such terms, or other comparable terminology. Because such
statements deal with future events, plans, projections, or future
performance of the Company, they are subject to various risks and
uncertainties that could cause actual results to differ materially from
the Company’s current expectations. These risks and uncertainties
include but are not limited to: the effects of the global economic and
financial trends; market demand for the Company’s products; successful
implementation of the Company’s products; changes in the competitive
landscape, including new competitors or the impact of competitive
pricing and products; and such other risks and uncertainties as
identified in BluePhoenix’s most recent Annual Report on Form 20-F and
other reports filed by it with the SEC. Except as otherwise required by
law, BluePhoenix undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.

This press release is also available at www.bphx.com.
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